OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 2 Lower |
| SOYBEAN MEAL: | $7.40 Lower |
| LIVE CATTLE: | $0.90 Higher |
| DOW JONES: | 42 Points Higher |
| NASDAQ: | 18 Points Higher |
| CRUDE OIL: | $1.84 Higher |
MIDDAY MARKET UPDATE:
Traders were cautious as spot trading began. There was concern there could be a repeat of last month after the Cold Storage report. Class III futures were lower prior to spot trading. However, block cheese price remained unchanged at $1.8575 with no loads traded. There were no buyers or sellers showing up to do any business. Barrel cheese price increased 1.50 cents, closing at $1.5250 with one load traded. There was an unfilled bid and uncovered offer remaining at the close. However, even with the increase of barrels, Class III futures did not change much, leaving futures lower across the board with contracts ranging from 1 to 25 cents lower. Butter price remained unchanged at $1.99 with no loads traded. A bid was posted during spot trading below the market with the buyer unwilling to increase the bid. Grade A nonfat dry milk price remained unchanged at $1.5675 with two loads traded. Dry whey price remained unchanged at 70 cents with one load traded. Class IV futures are 15 to 18 cents lower. Butter futures are 0.50 to 4.75 cents lower. Dry whey futures are 0.10 to 0.95 cent lower.
